Monetary And Financial Stability Implications Of Capital Flows In Latin America And The Caribbean

Author : Alejandro Jara
Publisher :
ISBN 13 : 9789291977796
Total Pages : 59 pages
Book Rating : 4.99/5 ( download)

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Download or read book Monetary and Financial Stability Implications of Capital Flows in Latin America and the Caribbean written by Alejandro Jara and published by . This book was released on 2008 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Bank for International Settlements
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.48/5 ( download)

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Download or read book Monetary and Financial Stability Implications of Capital Flows in Latin America and the Caribbean written by Bank for International Settlements and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central Bank participants at the BIS 2008 Open Economies Meeting in Punta del Este, Uruguay, discussed trends in capital flows since 2003 and their monetary and financial stability implications. Capital flows appear to be more benign today than in the past, partly because of a greater share of foreign direct investment and reduced reliance on foreign financing that has contributed to improvements in international investment positions (IIPs). Participants held the view that the economies in the region had become more resilient. For instance, although currency and maturity mismatches are still a concern in some countries, they appear to be less relevant today than in the past. The recent shift in the global financial environment and its regional implications were also discussed. Notwithstanding continuing concerns about risks, the impact of the financial turmoil at the time of the meeting was still limited. Indeed, there was more concern with the risks of a global slowdown than with direct financial contagion. Looking forward, a key issue is how the transition away from the benign global financing environment that characterised the world economy in this decade will unfold. The effects on the region from the global financial turmoil and the associated downturn in economic activity in advanced economies will vary from country to country, and much will depend on specific developments, such as the evolution of commodity prices. In terms of macroeconomic policies in the face of large foreign currency inflows, fiscal and prudential policies to enhance resilience were considered important. It was also believed that sovereign wealth funds could play a useful role. There was less consensus regarding capital controls. Although some argued that they could be effective in the short run, there could be costs in terms of financial market development. Views also diverged on the effectiveness of foreign exchange intervention. Participating central banks agreed that securing financial stability in small open economies required the cooperation of monetary, fiscal and prudential authorities. However, participants expressed concern about possible contagion from the recent financial turmoil operating through foreign-owned banks. In some cases, there was concern that domestic banks with large foreign refinancing needs could also become vulnerable. The document in this volume was written by Alejandro Jara and Camilo E. Tovar with the technical advice of Ramon Moreno. We would like to thank all participants at the meeting for their comments and overall feedback. We are greatly indebted to Pablo Garcia-Luna and Rodrigo Mora for their excellent research assistance. Mar Gudmundsson made detailed comments on the document. We hope this publication will be a useful contribution towards improving the understanding of the monetary and financial stability implications of capital flows in the region.

Author :
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.69/5 ( download)

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Download or read book Monetary and Financial Stability Implications of Capital Flows in Latin America and the Caribbean written by and published by . This book was released on 2008 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Cheng Hoon Lim
Publisher : International Monetary Fund
ISBN 13 : 147558959X
Total Pages : 41 pages
Book Rating : 4.97/5 ( download)

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Download or read book Financial Stability Reports in Latin America and the Caribbean written by Cheng Hoon Lim and published by International Monetary Fund. This book was released on 2017-03-28 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many countries in Latin America and the Caribbean now publish financial stability reports. This study reviews their latest issues to assess their content, quality, and transparency. While some reports provide a strong analysis of risks and vulnerabilities, there are significant cross-country differences, and many reports could be improved by adopting a more comprehensive, forward-looking, and thematic assessment of financial stability. A well thought out communication strategy, including a regular and predictable publication schedule and an easily accessible website, is also important to enhance the impact of the reports. Data gaps, particularly at the disaggregated level, are material and need to be urgently addressed.

Author : Ricardo Hausmann
Publisher : IDB
ISBN 13 : 1886938040
Total Pages : 114 pages
Book Rating : 4.45/5 ( download)

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Download or read book Volatile Capital Flows written by Ricardo Hausmann and published by IDB. This book was released on 1996 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Dyna Heng
Publisher : International Monetary Fund
ISBN 13 : 1484326814
Total Pages : 32 pages
Book Rating : 4.17/5 ( download)

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Download or read book Advancing Financial Development in Latin America and the Caribbean written by Dyna Heng and published by International Monetary Fund. This book was released on 2016-04-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.

Author : Mr.Luis Ignacio Jácome
Publisher : International Monetary Fund
ISBN 13 : 1484303180
Total Pages : 57 pages
Book Rating : 4.84/5 ( download)

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Download or read book Central Banking in Latin America written by Mr.Luis Ignacio Jácome and published by International Monetary Fund. This book was released on 2015-03-17 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.

Author : Robert Rennhack
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781462378791
Total Pages : 42 pages
Book Rating : 4.9X/5 ( download)

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Download or read book Global Financial Regulatory Reform: Implications for Latin America and the Caribbean (LAC) written by Robert Rennhack and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-07-21 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Latin America and Caribbean (LAC) region has weathered the global financial crisis reasonably well so far, although tighter global financial conditions began to take their toll on trade, capital flows and economic growth in late 2008. This resilience reflects the reforms put in place by many countries over the past decade to strengthen financial supervision and adopt sound macroeconomic policies. Building on this progress, the region's financial sector reform agenda now aims at further improvements, including steps aiming to improve compliance with the Basel Core Principles of Banking Supervision and to broaden and deepen domestic financial markets.

Author :
Publisher :
ISBN 13 : 9789291977352
Total Pages : 93 pages
Book Rating : 4.57/5 ( download)

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Download or read book Evolving Banking Systems in Latin America and the Caribbean written by and published by . This book was released on 2007 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Bank for International Settlements
Publisher :
ISBN 13 :
Total Pages : 99 pages
Book Rating : 4.66/5 ( download)

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Download or read book Evolving Banking Systems in Latin America and the Caribbean written by Bank for International Settlements and published by . This book was released on 2013 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 26 and 27 January 2006, the BIS, in collaboration with the Bank of Jamaica, hosted a meeting for senior central bankers in Kingston, Jamaica, under the broad theme quot;Evolving banking systems in Latin America and the Caribbean: challenges and implications for monetary policy and financial stabilityquot;. The meeting was chaired by Myacute;r Gudmundsson, Deputy Head of the Monetary and Economic Department of the BIS, with the purpose of discussing how the smaller economies of Latin America and the Caribbean (LAC) have dealt with the transformation of their financial system during the last decade.